Bitcoin Risks Drop to $69K As Peter Schiff Warns Of Spectacular Crash

TLDR

• Bitcoin has dropped 30% since its peak of $126,000 in 2025.
• A death cross is forming near the $100K price level.
• The 200-day EMA sits at $69K, seen as a pullback target.
• Schiff says BTC could crash as speculators run out of time.

Peter Schiff warns of a potential Bitcoin crash as technical indicators hint at a steep drop to $69,000. With BTC recently falling 30% from its all-time high of $126,000 and a death cross forming on the chart, Schiff’s bearish outlook may align with current market signals.

Bitcoin Price at Risk as Technical Pattern Emerges

Bitcoin’s recent performance has raised concerns as the cryptocurrency trades near the $93,000 mark, having fallen 30% from its 2025 high of $126,000. Gold, during the same period, surged 65%, leading some analysts to question Bitcoin’s role as a store of value.

Peter Schiff, a longtime critic of Bitcoin, has again warned of a crash. His latest prediction is supported by a technical chart pattern forming a “death cross” between the 23-day and 50-day moving averages near the $100,000 level.

The 200-day Exponential Moving Average (EMA) is currently around $69,000. Analysts say this level could attract the price if the current downward trend continues, possibly resulting in a 27% drop from today’s price.

Schiff Highlights Gold’s Outperformance Over Bitcoin

Schiff has long supported gold over digital assets and has pointed to the recent divergence between the two. Gold has seen a strong rally, gaining 65% in the last year, while Bitcoin has been in a decline since peaking.

According to Schiff, Bitcoin’s failure to outperform gold challenges its reputation as “digital gold.” He said, “The market gave speculators too much time to buy, and the likely outcome is a spectacular crash.”

This quote reflects his long-held belief that Bitcoin lacks real value and is driven largely by speculation.

Technical Indicators Suggest More Downside Ahead

The chart setup is what separates Schiff’s recent warning from past ones. A “death cross” near $100,000—where the 23-day moving average crosses below the 50-day average—is typically seen as a bearish sign.

The 200-day EMA at $69,000 aligns with Bitcoin’s former all-time high from 2021. This makes it an important level of interest. If prices continue to decline, analysts believe this level could be tested again soon.

Current trading levels show Bitcoin consolidating around $93,000. However, if there is no strong recovery towards the $101,000–$102,000 range, where key moving averages meet, a further drop may happen quickly.

Market Silence from MicroStrategy Adds to Uncertainty

Michael Saylor, the executive chairman of MicroStrategy, is known for frequent Bitcoin purchases, often shared on social media. However, on the day of Schiff’s warning, Saylor posted only, “Bitcoin never takes holidays,” with no new purchase announced.

This silence raised questions among investors, especially as previous Mondays often came with buying updates. Schiff responded with a jab: “You can lose money in Bitcoin 365 days a year.”

Uncertainty over institutional demand, combined with bearish signals, has led to more cautious trading across crypto markets.

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